An interesting new cryptocurrency Ripple: a guide for investors 2020

Jeremy Stone Cryptocurrency Read 5min

This year was very successful for the most popular cryptocurrencies. In this case, we are talking, of course, about bitcoin and Ethereum. Despite this almost clear to everyone result, in the top three, quite unexpectedly breaks Ripple. With all this, for one Ripple, currently asking for only 20 cents, but for bitcoin about 7 thousand dollars. Ethereum is now on sale for $ 300. It would seem a very modest figure, but do not forget that its price has increased by as much as 3 thousand percent. Further information will be given about the cryptocurrency, how it was able to achieve such an indicator, and much more.

What is Ripple?

As for the so-called progenitor of the modern currency, it was called RipplePay. First appearance-2004.

At the same time, only one programmer from Canada managed to create a decentralized payment system for all users. Despite the fact that the idea was really great, nothing came out of it, so Fugger had to move on and create a more comfortable program of contactless payments. In simpler terms, he wanted to create payments that were completely independent of third parties.

As for this system, it appeared back in 2012, and was called Ripple. As for the company that was engaged in the maintenance of this platform, it was called Ripple Labs. It is interesting that Fugger and the company created an excellent platform for decentralized payments for individuals, but what is more interesting, this system also worked for legal entities. in this case, we are talking, of course, about banking companies. Moreover, the Ripple currency soon appeared on their platform.

In order for the system to function properly, a special algorithm was used. Moreover, Ripple has its own security Protocol, which is undoubtedly a very important factor. It is a free access code, and, therefore, each user will be able to make payments, exchange dollars, bitcoins, gold, and even air miles. In this case, it is possible to pay the Commission themselves Ripple, which is very convenient.

In order for a person to be able to understand how the system works, he talks about the Apple and the ticket to the cinema. For example, you live in the city of Omsk and you urgently need to go to the movies, but you only have an Apple. You can get a ticket for Sasha, but he lives in New York. Among other things, there are many friends who have a lot of different resources. Together, you will learn how to create an exchange system. Thus, you have launched an Apple into the system, Nina bought it for a ball, Sasha buys a ball for a movie ticket, so you get what you want. Simply put, it is your own exchange network. You can share different types of resources with all users.

For an exchange, you only pay a very tiny Commission, which is necessary to maintain the system as a whole. You will be able to exchange at least a million for bitcoins, the Commission will still be as small. It is not surprising that almost every major Bank liked to work in such a system.

If we talk about the system itself, it is used approximately as fuel to maintain operation. For the operation, the Commission is charged by Ripple. This currency is not like the usual bitcoins and Ethereum.

Features of Ripple, how the system works

The main difference is the inability to engage in mining. There was simply no such possibility. The company itself managed to mine 100,000,000,000 coins. With all this, 65 percent remained with the owners, and the rest were sent to the market.

In this case, the blockchain is not used. The transaction uses a kind of “gateways”. In order for these gateways to work as efficiently as possible, several dozen servers are provided, which are located in many countries of the world.

An interesting new cryptocurrency Ripple: a guide for investors 2020 1

There is a mandatory Commission for the operation, which is not less than 0.00001 XPR. The interesting thing is that when you pay the Commission, the currency completely disappears from the system. This procedure is designed to reduce the level of spam attacks. There are some people who send a huge number of requests for an operation in order to completely collapse the system. In that case, if a simple user does not notice the loss from the Commission, the spammer is able to get a fairly significant amount from this. Thus, there is simply no benefit in creating spam. Moreover, the disappearance of the currency, significantly affects its value. The fewer coins left, the higher their price.

For the popularity of the currency, the counting of banks that are in partnership with Ripple is used. In 2016, 20 contracts were signed with a variety of banks, which is why the value of the currency has increased by 200 percent.

Such a small value of the currency is due to the fact that their number is very large. Over time, the value of the currency will grow, and when there is a very small amount of such currency, it will reach a maximum.

The main pros of the currency

  • The transaction is carried out very quickly, faster than in bitcoin and Ethereum.
  • You can exchange one currency for another, as well as for certain types of values. In this case, we are talking primarily about gold, stocks and other precious metals.
  • Protection from hackers and fraudsters.
  • Inflation is completely excluded.
  • It is possible to reverse the transaction at any convenient time if you have made a mistake.

The main cons

  • Monopolization. The company itself is the main owner of the currency, it has 65 percent of them, and the exchange currency is leveled.
  • High-level centralization.

No doubt, in theory, such features must necessarily have been not in favor of the developers themselves. Control of circulation of money does not give the opportunity to provide the same level of popularity as at the time it was the famous bitcoin. In this case, the cost depends primarily on the company itself. Despite this, as mentioned earlier, over time, the number of coins will gradually decrease, which means that the cost will grow. Of course, you should not expect that the cost will be comparable with bitcoin, or at least with Ethereum.

How can you buy Ripple

As for Ripple, it is impossible to mine it in the traditional way. It is impossible to buy a farm and mine it, because it is simply not provided.

Despite the lack of this feature, it is still possible to get Ripple.

To do this you will need to log in to the official website ripplelab.com, it is possible to move to special scientific developments, which in turn are officially supported by the manufacturer. To do this, you need to perform computing work, as well as other work related to the company’s activities. This way you will be able to receive payment in an official way from the company.

Since Ripple are beginning to gain huge popularity, you can exchange them in almost any specialized exchanger. In order for you to have the opportunity to get acquainted with the current offers, you always have the opportunity to go to one of the sites of our exchange sites. In addition, you can use the services of almost any exchange, because most of them support the replenishment of the balance of this cryptocurrency.

Where can you store Ripple?

  1. As for the storage of this cryptocurrency, it can first of all be stored inside the system itself. However, this system is not particularly liked by users. The fact is that in this case it is possible to store only Ripple in the system. That is why not every user agreed to open a separate type of wallet to store this currency.
  2. In connection with these discontents, the company decided to cover this wallet and offered two options for storing its currency.
  3. First of all, you can install a specialized crypto wallet. However, in this case, you will need to download not only the program, but also a special device that will support the wallet on your PC. In appearance, this device is very similar to a flash drive, but the cost reaches 60 us dollars. Of course, this is a very serious amount, but in this case, the security is increased tenfold, and the possibility of hacking is reduced to almost zero. As for such methods of data storage, they are called hardware. This name was given, for the reason that a special device is used. As for the manufacturer, it is a fairly well-known manufacturer Ledger. Currently, the manufacturer has two wallets, which in turn can support XPR-Nano S and Blue. Moreover, it is possible to store not only Ripple, but also bitcoins, Ethereum and many other famous types of cryptocurrencies.
  4. Another option is to create a wallet on Gatehub. This resource has the ability to provide currency support, but in this case you need to provide a huge amount of data: your email address, your cell phone number, valid first and last name, real date of birth, copies of documents, as well as your real photo. Of course, this procedure can take a lot of time, but for this you can get a few bonuses. First of all, you can count on the fact that only you will have access to your account, hacking is almost impossible. Not only that, after you register, immediately get a bonus in the form of 20 Ripples.

Can you earn on the Ripple cryptocurrency?

If we talk about the cryptocurrency itself and the system as a whole, they are not created for a simple user, but rather for banks.

As for bitcoin, it was created primarily in order to make alternatives to classic payments, in this case, we are talking about the banking system.

Despite this indicator, ordinary users will also be able to earn.

First of all, you can buy Ripple now at a good price, and then sell on more favorable terms.

It is really a very simple way, but do not expect that in the near future you will be able to earn a lot, because we are talking about small amounts. Despite this, the system is gradually beginning to develop, and the cost of cryptocurrency is growing every year. For this reason, it is still worth investing. For example, if you have time to buy a currency for a hundred dollars now for 20 cents per Ripple, then in a year, provided the cost of $ 2, you can get $ 1000. Thus, the profit was 900 dollars.

Investing in the company’s projects

Many experts say that very soon, Ripple will be used as the main method of interbank payments. Because this option is more attractive than the same SWIFT. Thus, it is worth investing in the development of the company itself, in order to get excellent dividends over time. All basic information about investments can always be obtained on the official website of the company.

First of all, it is worth highlighting the fact that there is a huge growth of this currency in the market. Capitalization just a year ago was only $ 200 million, so the currency did not even hit the tops. Today, the amount is already 7 billion dollars, and the cryptocurrency itself has entered the top three.

Many people say that this is the payment system of the future.

Today, the company’s services are used by such large banks as Western Union, UBS and others. In addition, the company’s partners include such giants as Microsoft, and Google has invested 60 million dollars.

Thanks to such investments, the cryptocurrency began to gain a huge growth rate. In the event that such popular companies decide to invest in this cryptocurrency, then pay attention to it is mandatory.

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